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OC 36: Meaning of maximum deficit debit
or “Explanation of a now-removed tax term related to memorandum accounts”
You could also call this:

“Explanation of a term for foreign dividend payments that is no longer in use”

This section of the law used to explain what ‘policyholder FDP ratio’ meant. FDP stands for foreign dividend payment. However, this part of the law no longer exists. It was removed on 1 July 2010. If you need to know about policyholder FDP ratios, you should look at newer laws or ask a legal expert for help.

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Next up: OC 38: Meaning of reduced deficit debit

or “This outdated section about reduced deficit debits was removed from tax rules in 2010”
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Part O Memorandum accounts
Foreign dividend payment accounts (FDPA)

OC 37Meaning of policyholder FDP ratio (Repealed)

    Notes
    • Section OC 37: repealed, on , by section 418(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).